Is Ethereum Becoming the New Platform for Startups?

Why is Ethereum attracting so many new startup companies?

The recent rise in value of Ethereum has vaulted it to over a billion dollar capitalization and second only to Bitcoin. Its value is more than four times the value of the third place crypto-currency, XRP..

Ethereum was created by Vitalik Buterin, a college dropout who although enthusiased by the potential for Bitcoin, felt that there could be a better platform. Buterin, who has been compared to Steve Jobs, feels that his creation provides a robust platform for others to develop on and create powerful applications.

Buterin recently released his first production-ready version of Ethereum but even prior to this release, there had been a rush of startups to utilize the open platform and create blockchain based businesses for new products and services, or to supporting their existing businesses.

"We’ve seen Microsoft and IBM doing projects on Ethereum. There’s a lot of coders. It’s exciting to see something you were in on in the early stages growing and bearing fruit," Anthony Di Iorio, one of Ethereum's founders and a Chief Digital Officer at the Toronto Stock Exchange, said in an interview.

In 2015, there was a rush of venture capital into Bitcoin and Blockchain companies. This year, the influence and potential of Ethereum is seeing venture money coming in specifically targeted to Ethereum based startups.

One of the leading crowdfunding sites for Blockchain related ventures is BnktotheFuture, which has helped to fund companies such as Factom and Bitpay, recently raised money for an Ether mining fund.

The billion dollar capitalization of Ethereum has clearly raised its profile and potential of its currency, Ether as a powerful form of currency and investment.

We're sure to see other startups and businesses who will recognize this reality and provide investing capabilities to harness the potential of Ether as a currency.

The growth and interest in Ethereum is making it clear that the discussion about cryptocurrencies can no longer be limited to Bitcoin. As more startups and money continue to chase the potential of Ethereum it’s imperative that anyone following the digital currency space needs to keep up to date to what’s going on with Ethereum.